empty
 
 
25.04.2013 01:46 PM
GbpChf breaks out, 1.46-1.47 seen as resistance

This image is no longer relevant

Technical outlook and chart setups:

The single currency pair has finally broken above the consolidation cone depicted here. Furthermore, the price resistance at 1.4530 is also cleared, indicating further bullishness in store. This daily chart view is depicting a wave structure which still remains bearish with major resistance at 1.5 level. The current rally from 1.4 level could still be a retracement/pullback of the larger downswing (1.5-1.4). 1.4600-1.4700 levels would be of interest to us now, for initiating short positions. This region is also re-enforced by past support turned resistance zone, the Fibonacci 0.618 resistance and extension of the recent upswing that begun from 1.4 level. Keeping all this in view, it is recommended to initiate short positions around 1.46/1.47 levels.

Trading recommendations:

Flat for now. Looking to sell higher.

Good luck!

Summary
Urgency
Analytic
InstaForex Analyst
Start trade
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback